Golden Advice On Dealing With The Ultimate Commodity

September 27, 2013 by ·

Do you want to make a gold investment? If so, know it’s a smart choice that balances out your portfolio’s risk. But you need to acquire a certain amount of technique first. Keep reading to learn why gold can be so useful as an investment strategy.

When you invest in gold, you can’t go wrong with bullion bars. They come in weights that vary. From .5 ounces to 400 ounces, the choice is yours. The 400 ounce bars are generally hard to find.

Prior to buying or selling any gold, be sure you truly understand how gold pricing works. The values of precious metals fluctuate daily, so be certain you know the spot price before any transaction. If you have gold that does not weigh up to a full ounce, you may receive less than the melt value when selling it.

Before going to sell your jewelry, investigate what the current market price of gold is. That will help you determine whether or not a dealer is actually offering you a good price for your pieces. Many gold dealers will pay market value; however, some dealers try to get your gold cheap.

Melt Value

When it comes time to sell your gold, figure out if you would like to sell it for its melt value or simply as a piece. Many private buyers and pawn shops are only willing to give the melt value. Selling your unique gold pieces to a collector can end up netting you more money.

Make sure you know the spot price of gold the day you plan to buy or sell. Many websites contain this information and it varies every day. When purchasing, don’t pay greater than 8% markup above the spot price. Anything more is unethical.

If you send off gold by mail, see how much it is to have it returned to you if the offer isn’t that great. A lot of buyers offer free shipping but will charge you a lot to send the item back. Know what this cost is before you mail your items.

Know what it is you actually have. A lot of the time, gold isn’t really worth what it looks like it’s worth. Usually, there are other metals mixed with gold for stability. This actually lowers the price of the gold. Gold plated items are subject to this too. Having an appraisal done to your gold can help you get the best idea of its actual worth.

Check Better Business Bureau ratings for gold dealers and jewelry stores before deciding where you want to sell your pieces. The BBB listing should include basic data about the company, along with details about any complaints made against them. Pay close attention to whether any of the complaints were not settled in a satisfactory way. If you see lots of complaints that have gone unresolved, think about moving on.

Know your dealer before purchasing gold. To ensure you’re dealing with someone legitimate, do some research with the BBB. Get in touch with the BBB to find information about which complaints, if any, have been filed. If you find several complaints, look elsewhere for a gold dealer.

A good way to get a good price on gold is to ask your relatives for their broken jewelry. Buy a jewelry scale and weigh the gold so you can give your loved ones a good deal and still make money for yourself.

With luck, you now feel comfortable adding gold to your portfolio. This strategy can help fill in the gaps between your savings and stocks. See why gold is such a great investment, and understand the differences in risk between the different choices available to you.

Filed Under: Precious Metal Trading · Tagged: , ,

Gold And Everything That Needs To Be Known About It

September 26, 2013 by ·

While the price of gold is always in flux, one thing that can be counted on is that the general value is always rising. Being that gold is highly sought after you can always expect that there will be a market for it. Tough economic times usually entail a rise in the price of gold. Keep reading to learn how you can take advantage of the gold market.

When entering the gold market you will want to have an idea on how the precious metals prices are determined. Gold, platinum and silver prices tend to fluctuate daily, so make sure you check the spot price on a specific day before you make a transaction. A higher percentage over the melt should be expected when purchasing fractional gold pieces such as 1/2 or a 1/4th ounce against a one ounce piece.

Comparison shop when it comes to selecting a buyer. The BBB website and other online forums are excellent resources for information on customer satisfaction and a company’s standing. Also get more than one offer for your gold. This will ensure you get the best possible price.

Think about selling your gold online. You don’t need to visit an actual store to do this. Just visit a reliable website that will buy your gold. Most sites work by mailing you a mailer or kit. You then use your mailer to ship the gold. You will receive payment based on the current market value of gold when your items arrive.

Before you purchase a gold piece, know when it is going to be delivered. If this is not possible, make sure you get a written contract outlining when the items will arrive. The date on which you can expect to receive the items should be provided. Only go through with your order if you obtain this document.

Before you mail any jewelry to a particular company which purchases such items, be sure to do your homework and check out the company thoroughly before you do so. Be sure you figure out when you’ll get sent a payment, and be sure things are insured too. Take a photo of what you mail to battle against disputes down the road.

Ensure that your retirement investments are approved. Your gold has to be IRS approved. It needs to be either 24 karat coins or bullion bars. Lean towards buying the bars over the coins as they hold more value than coins.

When you buy gold for another, make sure it has a return policy. People’s tastes are different and you don’t know the whether the person will like what you buy. If this happens, you need to return it for a complete refund.

If you’re clueless about the value of your gold jewelry, have it appraised. Although you’re spending some money up front, at least you’re getting fair market value for your items. Look for an independent appraiser who is properly accredited if you want the most accurate value. Even if you still choose to sell, do know that you aren’t going to get the appraised value.

As you probably are aware, gold is what the financial system weighs its value against. Take advantage of this commodity that fluctuates daily by understanding it to get more out of it, and then secure any financial goals you have. Use what you’ve just learned to find your pot of gold.

Filed Under: Gold · Tagged: ,

Wondering What All The Fuss Over Gold Is All About? Check Out This Advice Today!

September 25, 2013 by ·

Gold has been a central part of global finance for many centuries. Create strong and lasting investments by learning all you can about gold. There are many things to consider when investing in gold including where you should invest and how you should invest. Read on to discover more details about this popular investment option.

Gold is something that changes in price all the time. This is why you should know what it’s worth prior to selling. If you have made the call to sell any gold you have, group your pieces by karat value. Don’t sell jewelry that is more valuable due to maker or designer.

Before buying or selling gold, be sure you are aware of how metals are priced. Silver, gold and platinum prices fluctuate often, and therefore you need to verify spot pricing the day prior to your intended deal. If you have gold that does not weigh up to a full ounce, you may receive less than the melt value when selling it.

Gold Online

Try selling gold online. There’s no reason to confine yourself to brick-and-mortar stores when selling your gold. There are many places to sell gold online. The site will mail you a kit for mailing in your items. If everything works according to plan, you will get paid at market prices.

Always check out the up to date market value for gold before you seek your gold jewelry. This way, you’ll know whether you’re really being offered a fair price. Most dealers will give you the market value, but some will rely on the fact that people just want cash to try and get the best deal possible for themselves.

Ensure that your retirement investments are approved. The IRS needs to approve the gold. The gold has to be either coins or bars, of the 24 karat variety. Consider bars more than coins, since they have more value.

If you want to invest in gold but do not have much money, think about purchasing scrap. This can be done in tiny increments which allow you to build wealth slowly. Keep your collection safe until you have an sufficient amount to cash in.

When you plan to buy gold, make sure you look at the spot price. This information is available on a number of websites. Never pay any more than an 8 percent markup on the gold prices. Occasionally an unethical dealer may try to overcharge their customers.

You need to only sell your gold to buyers that are licensed. While you could still get ripped off, a licensed buyer is more likely to be reputable. Many entities buy gold, so you don’t necessarily have to sell when you get the first offer.

Shop around before making any decisions about a gold buyer. The chances are good that you will get completely different offers for your gold. If you go with the first buyer that you meet, you may end up with the worst deal possible. Instead, do your research and get the most for your gold.

Research gold before investing in it. There are predators out there in the gold market that claim to be big shots but just want you investing with them. Be careful of promises claiming you’ll become rich. Don’t think of it like a get-rich-quick scheme to avoid false expectations.

If you’re thinking of selling your old gold jewelry and scraps to a gold-buying business, it’s crucial that you check their reputation on the Better Business Bureau’s website first. You will see if there were any complaints and be able to read reviews from consumers who have conducted business with them. Look at any past complaints customers may have had and how they were resolved. If you see that there are a lot of unresolved complaints, you may want to go with someone else.

A choice many people use when selling gold is to ship it through the mail. Although this process may be easier, you may not earn as much money. You receive a postage paid envelope, place your items inside, ship it and wait for a check in the mail. Remember that these places usually do not pay as much as other places for gold. You might receive up to 30 percent less concerning an item you sell, so be aware of this.

You just learned a heck of a lot about the gold trade. Now you’re able to make a better decision about how to fit gold in your investment portfolio. Follow this advice to begin making money through gold investment.

Filed Under: Investing In Gold · Tagged: , , , ,
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